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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Weighted-Average Assumptions and Restricted Stock Awards Activity

The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value:


	Nine Months Ended September 30,
Restricted Shares and Performance Based Shares	2025			2024
Expected quarterly dividends per share	$	0.4075		$	0.3875
Risk-free interest rate	4.00		%	4.27		%

Market-Based Shares
Dividend yield	3.12		%	4.21%
Expected volatility	15.67		%	13.09%
Risk-free interest rate	4.12		%	4.31%

The following table summarizes activity in restricted stock awards, including performance-based and market-based shares for the nine months ended September 30, 2025:


	Restricted Stock
	Shares	Weighted- Average Grant Date Fair Value
Outstanding at December 31, 2024	241,237	$	37.05
Granted	170,560	47.61
Released	(160,934)	40.81
Forfeited	(5,257)	36.08

Outstanding at September 30, 2025	245,606	$	41.94

The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares:


	Nine Months Ended September 30,
Restricted Stock	2025		2024
Weighted-average grant date fair value	$	47.61	$	33.51
Total fair value of restricted shares that vested (in thousands)	$	8,178	$	7,976